Subscribe to Dharmaj Crop Guard: KR Choksey

KR Choksey has come out with its report on Dharmaj Crop Guard. The research firm has recommended to “ Subscribe” the ipo in its research report as on November 25, 2022.

Broker Research

November 26, 2022 / 20:16 IST

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26 Aug, 2025 12:21

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KR Choksey IPO report on Dharmaj Crop Guard

Dharmaj Crop Guard Ltd. (DCGL) is an agrochemical company engaged in the business of manufacturing, distributing and marketing of a wide range of agrochemicals such as insecticides, fungicides, herbicides, plant growth regulator, micro fertilizers and antibiotic to the B2C and B2B customers. DCGL exports its products to more than 20 countries in Latin America, East African countries, Middle East and Far East Asia. It sells its agrochemical products in granules, powder and liquid forms. DGCL has obtained 464 registrations for agrochemical formulations from the CIB&RC (Central Insecticides Board and Registration Committee), out of which 269 agrochemical formulations are for sale in India as well as for export and 195 agrochemical formulations are exclusively for exports. It has 157 trademark registrations including branded products. Its formulations are sold as branded products to customers. As of September 30, 2022, DGCL had over 118 branded formulations that are sold to farmers.

Valuation and Outlook

We believe the company's long-term prospects are favorable, given the fact that it is an emerging player in the agrochemicals space having both B2C and B2B client base. The agrochemicals sector is gaining prominence and has bright prospects for the future. DCGL enjoys long-standing relationship with its client base. The company has good earnings visibility going ahead. Valuation wise also, DCGL is available at a discount to its listed industry peers. As a result of all these positive factors, we recommend investors to ‘SUBSCRIBE’ to the IPO of DCGL.

For all IPO report, click here